Russian upper class take over Phuket properties

[webfact]

Phuket has become a playground for Russia’s wealthy elite, causing property prices to skyrocket by 15 to 20%.

Amidst Thailand’s tourism boom and the aftermath of the Russia-Ukraine conflict, affluent Russians are making Phuket their long-term home, revealed Maetapong Upatising, president of the Phuket Real Estate Association.

 

“Phuket’s allure lies in its world-class amenities, including an international airport, schools, golf courses, yacht marinas, hospitals, and a dazzling array of luxury villas and condos.”

 

This influx has prompted major developers like Origin, Sansiri, Siamese Asset, and Raimond Land to invest heavily in Phuket, unveiling projects in coveted areas such as Cherng Talay and Patong.

 

by Puntid Tantivangphaisal

Photo courtesy of Elite Havens

 

Full story: The Thaiger 2024-01-04

 

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[CHdiver]

If Thailand is not careful, the Russian will declare Phuket a second Krim and take it over. 

[smedly]

I honesty don't blame them when there is an idiot trying to rule the world called ........ Putin, who has has threatened on numerous occasions to nuke the world, signatures of a madman, go ahead nuke the planet, put up or shut up, oh and get out of Ukraine, you will not be allowed to win

[hotchilli]

2 hours ago, CHdiver said:

If Thailand is not careful, the Russian will declare Phuket a second Krim and take it over. 

Work in progress...

Phuket may revel in the Russian invasion, gleefully taking the revenue now.

But wait until Russians do what Russians do.. take over, businesses, start dictating what goes on and push prices of everything up until the locals are forced out.

[2baht]

Insurgents!

[IAMHERE]

It must be official; Rich makes you 'upper' class. 

[VinnieK]

3 hours ago, CHdiver said:

If Thailand is not careful, the Russian will declare Phuket a second Krim and take it over. 

I hope so..

[Hakuna Matata]

4 hours ago, CHdiver said:

If Thailand is not careful, the Russian will declare Phuket a second Krim and take it over. 

 

Then we will ask Israel to deal with that.

[ravip]

2 hours ago, IAMHERE said:

It must be official; Rich makes you 'upper' class. 

Absolutely! This came to my mind and then I spotted your post!

So... by hook or by crook earn a load of money... and wallah you are in the Upper Class category!

[Peterphuket]

5 hours ago, CHdiver said:

If Thailand is not careful, the Russian will declare Phuket a second Krim and take it over. 

Because there are many speaking Russian, the same story they tell in Ukrain.

[wombat]

secede the island will be next

[oustaristocrats]

6 hours ago, webfact said:

Phuket has become a playground for Russia’s wealthy elite, causing property prices to skyrocket by 15 to 20%.

Amidst Thailand’s tourism boom and the aftermath of the Russia-Ukraine conflict, affluent Russians are making Phuket their long-term home, revealed Maetapong Upatising, president of the Phuket Real Estate Association.

 

“Phuket’s allure lies in its world-class amenities, including an international airport, schools, golf courses, yacht marinas, hospitals, and a dazzling array of luxury villas and condos.”

 

This influx has prompted major developers like Origin, Sansiri, Siamese Asset, and Raimond Land to invest heavily in Phuket, unveiling projects in coveted areas such as Cherng Talay and Patong.

 

by Puntid Tantivangphaisal

Photo courtesy of Elite Havens

 

Full story: The Thaiger 2024-01-04

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

 

The Thai government always looks to the short time effect, and the property developers of course don't care about the future of the island at all, they can sell NOW, this is what matters to them.

 

One important effect is always forgotten by the ones in charge, Thailand wants to lure more wealthy, at least middle class tourists, because these people have more to spend, sounds logic. However, these people will change there holiday or purchase property plan when they know the island is colonized by Russians and Chinese. They will never come back or go there anymore, not even for a few days. This means the colonization effect will go with tripple speed, you will very rapidly see an island where locals can't afford anything anymore, move out, other nations people will stay away, and Russians (maybe also Chinese) will take over the island. 

[mfd101]

8 hours ago, CHdiver said:

the Russian will declare Phuket a second Krim and take it over. 

Never mind, the Royal Thai Armed Forces will take care of it.

[brianthainess]

The Russians are everywhere, lots on Koh Chang now. Why do Ukrainians not get a 3 month free visa, if this was supposed to be a recipical  agreement, Thais get a 3mth visa for Ukrainian.

[ujayujay]

9 hours ago, webfact said:

Phuket has become a playground for Russia’s wealthy elite, causing property prices to skyrocket by 15 to 20%.

Amidst Thailand’s tourism boom and the aftermath of the Russia-Ukraine conflict, affluent Russians are making Phuket their long-term home, revealed Maetapong Upatising, president of the Phuket Real Estate Association.

 

“Phuket’s allure lies in its world-class amenities, including an international airport, schools, golf courses, yacht marinas, hospitals, and a dazzling array of luxury villas and condos.”

 

This influx has prompted major developers like Origin, Sansiri, Siamese Asset, and Raimond Land to invest heavily in Phuket, unveiling projects in coveted areas such as Cherng Talay and Patong.

 

by Puntid Tantivangphaisal

Photo courtesy of Elite Havens

 

Full story: The Thaiger 2024-01-04

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

Phuket sells its soul

[Mavideol]

thought foreigners can not own land in Thailand or is it a special deal with Russians they can own land... it baffles me to see so many houses being built, majority advertised for sale in English, and yet we can not own land, are Thais that rich they can afford to buy these houses listed for 3,99 mil baht an up, somehow they must as they don't stay empty for long... still baffled by all of it

[freeworld]

Does upperclass mean Hiso?

[freeworld]

9 hours ago, smedly said:

I honesty don't blame them when there is an idiot trying to rule the world called ........ Putin, who has has threatened on numerous occasions to nuke the world, signatures of a madman, go ahead nuke the planet, put up or shut up, oh and get out of Ukraine, you will not be allowed to win

Here what reuters reports

 

https://www.reuters.com/world/europe/has-putin-threatened-use-nuclear-weapons-2022-10-27/

 

"- Lavrov: The West keeps trying to say that Russia is voicing nuclear threats yet Putin has been clear that Moscow's nuclear policy is defensive. Russia, he said, remained committed to the Jan. 3 pledge by major nuclear powers that a nuclear war cannot be won and must never be fought."

[LivinginKata]

3 hours ago, Mavideol said:

thought foreigners can not own land in Thailand or is it a special deal with Russians they can own land... it baffles me to see so many houses being built, majority advertised for sale in English, and yet we can not own land, are Thais that rich they can afford to buy these houses listed for 3,99 mil baht an up, somehow they must as they don't stay empty for long... still baffled by all of it

 Not individuals. But there are a number of legal ways to buy/own land by company or proxy. A Thai lawyer easy make it happen.

[SirHonkersTheFirst]

"Russian" and "upper class" don't belong in the same sentence.

[Adumbration]

It is not a property boom.  It is a money laundering boom.

 

And where the *uck are these world class ammenties?

[John Drake]

10 hours ago, hotchilli said:

Work in progress...

Phuket may revel in the Russian invasion, gleefully taking the revenue now.

But wait until Russians do what Russians do.. take over, businesses, start dictating what goes on and push prices of everything up until the locals are forced out.

 

Not the same but similar to Harbin in the early part of the 20th century, when Russians took over the city and eventually forced a joint Soviet-Chinese administration. One of the few good things Japanese Manchukuo did was to kick out the Russians. Given the chance, they will colonize and take over wherever they go.

[Mavideol]

1 hour ago, Adumbration said:

It is not a property boom.  It is a money laundering boom.

 

And where the *uck are these world class ammenties?

that paragraph is not about Thailand, they were talking about somewhere else   555

[Mavideol]

1 hour ago, LivinginKata said:

 Not individuals. But there are a number of legal ways to buy/own land by company or proxy. A Thai lawyer easy make it happen.

I know there are many/different ways of peeling a rabbit ....easy to buy not so easy to resale using company or proxy

[rovinman]

11 hours ago, hotchilli said:

Work in progress...

Phuket may revel in the Russian invasion, gleefully taking the revenue now.

But wait until Russians do what Russians do.. take over, businesses, start dictating what goes on and push prices of everything up until the locals are forced out.

 

But don't forget,  They CAN'T BUY the property under Thai Law, they may only lease it, unless they are VERY VERY RICH,  !
Does the Government allow them to buy 100% of Thai land  ?  ?

Condo's you can buy, IF you're within the 49% of the Rule, Land is the same 51% has to be owned by a Thai  !

[KannikaP]

30 minutes ago, Mavideol said:

I know there are many/different ways of peeling a rabbit ....easy to buy not so easy to resale using company or proxy

Just love your English, but it is to SKIN a rabbit. You PEEL a banana!   Cheers.

[Geir Rasch]

11 hours ago, IAMHERE said:

It must be official; Rich makes you 'upper' class. 

In a capitalist world money has always been the definition of upper class. If you are rich then no questions asked.

[Umlungu]

12 hours ago, mfd101 said:

Never mind, the Royal Thai Armed Forces will take care of it.

Send the submarine. Oh wait, no engine!

[Phil1964]

Was awful to get to get around Phuket when I visited in 2018.

Even more of an incentive NOT to visit now the Soviets and their corrupt money has turned up.

 

 

[sammieuk1]

They also come with their own taxi drivers,hairdressers and prostitutes 🤔